fedor619 | Suiswap

The decentralized perpetual trading narrative has remained one of the competitive industries in the crypto space at the moment. The shift to this new narrative is a result of the consequences of centralized exchange closure during this bear season among other reasons. To be on the safer side and get control of my assets, i decided to try @chromatic_perp out. My experience on the platform was fun and here’s everything I found out👇 Chromatic Protocol is a decentralized perpetual futures protocol built 𝐨𝐧 𝐚𝐫𝐛𝐢𝐭𝐫𝐮𝐦. It enables users to create and trade the futures market of a balanced two-sided market exposed to price feeds provided by an oracle, using different strategies to their own advantage. Chromatic protocol testnet is now live, tap the link below to participate. testnet.chromatic.finance/tr… What I found intriguing about Chromatic Protocol is that it uses the “partitioned LP with dynamic fees” concept, it the the first protocol to introduce this. concept. Well, this is how it works; Chromatic Protocol provides a liquidity pool divided into multiple bins with different trading fee rates. The fee rate at which trades are executed is determined based on the dynamics of taker’s trading demand and maker’s liquidity supply. This dynamic fee system achieves a balanced maker-taker equilibrium, mitigating the inherent instability of closed systems like futures markets and significantly enhancing the sustainability of the protocol. I also found out that chromatic Protocol is censorship-resistant. The trusted intermediaries and rent extraction that are mandatory in traditional futures market are eliminated, this ensures a fair and capital-efficient trading by processing transactions based on smart contracts. Also the chromatic platform is accessible for anyone to freely participate in the decentralized financial market. @chromatic_perp aims to establish “Maximum Freedom”, a goal that the existing outdated code fails to accomplish. Chromatic has a user friendly interface that is easy to navigate for both newbies and seasoned traders What separates @chromatic_perp from other futures DEX is because it posses features that benefits its users such as; ➟ Solution for Default Risk: Predefined TP/SL —chromatic leverages smart contract for automatic and secure execution of planned liquidation. The predefined TP/SL innovation allows traders to plan their own TP/SL levels. ➟ Each LP chooses Each Risk: Separating index and settlement token— Most Perpetual futures DEX don’t give liquidity providers the freedom to select their desired risk exposure. However chromatic innovated separation of the underlying index and settlement token which enables market creators to devise innovative configurations. This gives room for a broader futures market by combining a non-manipulatable index from external oracles as the index and leveraging stable coins or ERC-20 tokens as settlement tokens. ➟ Decomposition of Liquidity — This allows liquidity providers to provide liquidity to both long and short pools and also have the flexibility to offer a total of 36 different fee rates. ➟ Pool — The strategy of partitioning Liquidity Providers, and splitting liquidity across 72 distinct bins for each market might be discouraging for liquidity providers that are more risk-averse. Sighting this issue, Chromatic innovated the “Pool”, which is designed to aid risk-averse liquidity providers. The pool allows them to optimize their liquidity strategies and seek stable, long-term returns. ➟ I also read @chromatic_perp articles and I was enlightened more, they gave a broader explanation on how Perpetual futures DEX should work, trust me the knowledge there is priceless. You should check it out medium.com/@chromatic-protoc… ➟ $CHRMA — this is the chromatic’s platform governance token. Holders of $CHRMA token will be able to partake in chromatic’s platform governance activities such as Voting on proposals. ➟ Airdrop — In the bid to reward their supportive community chromatic will be hosting a 2-season airdrop campaign. • Season1 Allocation : 1M-3M rCHRMA (rewarded CHRMA). • Season2 Allocation : This will be from the remaining allocation not distributed in Season 1 Airdrop budget. How to qualify for the airdrop👇 • Airdrop Season 1 will be assessed based on community activities and contributions during the Testnet (Arbitrum Goerli) period and the initial phase of the Mainnet, from November 2023 to sometime in Q1 2024, spanning several months • During the testnet period, Credits and Boosters will be distributed via Zealy based on community activities and contributions, they can be used to open the random Box and obtain rCHRMA. - Zealy Quest Board —zealy.io/c/chromatic/questbo… - Can check every new zealy quest updated in Discord— discord.gg/3dkGbbqy ➟ Conclusion — Overall I was Impressed with my experience using @chromatic_perp. It is a user-friendly and efficient platform that offers variety of features that are beneficial to traders and as the platform continues to grow and mature, we can expect to see even more innovative and exciting incentives and services emerge.